Best money market account rates today, February 19, 2026 (earn up to 4.01% APY)

Core Insights - The article discusses the current state of money market accounts (MMAs) and highlights the importance of earning competitive rates on savings as interest rates decline following recent Federal Reserve rate cuts [1][4]. Group 1: Current MMA Rates - The national average interest rate for money market accounts is 0.56%, but top rates can exceed 4% APY, comparable to high-yield savings accounts [3][9]. - Some banks are offering MMA rates above 4%, with a general cap around 4.5% [9]. Group 2: Federal Reserve Rate Cuts - The Federal Reserve maintained a target range for the federal funds rate of 5.25%–5.50% from July 2023 to September 2024, but has since implemented three rate cuts, bringing the current rate to 3.50%–3.75% [4][5]. - The decline in deposit account rates suggests that savers may have limited time to take advantage of higher MMA rates [5]. Group 3: Considerations for Savers - Money market accounts provide liquidity and safety, making them suitable for savers who need easy access to funds while earning better returns than traditional savings accounts [6][8]. - They are particularly appealing for conservative savers due to FDIC insurance, which protects principal [8]. - For those with short-term savings goals or emergency funds, MMAs offer a safer option with competitive yields [8].